3 – COVID-19 spurs demand for ‘healthy’ beauty products in China
Chinese consumers were expected to shift their attitudes towards beauty products that promote health on the label following the COVID-19 outbreak.
That was according to a new report from Euromonitor which tracked how COVID-19 was impacting the FMCG and service industries, including beauty and personal care, in China.
In 2019, China’s beauty and personal care market reached around CNY470 billion in retail value with a CAGR of around 9% over the past five years.
However, Chinese economy had been one of the worst-hit globally as a result of the COVID-19 outbreak.
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